All Forum Posts by: Tiamo Wright

We have had a great tenant in place for the last two years and I want to prepare for their turnover. I know that every property is going to be different based on size and wear and tear but wanted to see if anyone had any checklist that they follow to turn over a property to the next tenant as soon as possible. So far thinking things like:

- replacing air filters

- testing and replacing batteries in smoke detectors and carbon monoxide alarms

- carpet and floor cleaning and/or replacement 

- assessing for leaks and all working sinks, showers, toilets

- wall repairs and painting 

- appliances are in working order

- deep clean

- change locks and battery 

-replace all lightbulbs inside and out

- minor repairs

- landscaping 

Anything I am missing? And given normal wear and tear now much time do you give yourself from the tenant moving out to the new tenant moving in?

Thanks in advance 

Awesome, look forward to connecting!

I would love to meetup with other folks in the BiggerPockets community if you are attending FinCon in September let me know.

Sounds great! Would love to connect there.

I am also in the Charlotte area and go between Denver and Charlotte which are both a bit harder markets for cash flow with what is available on the MLS. Some really good points above about off market deals or maybe some other markets. There are a lot of other markets out there that might be better for your goals as well. Excited to watch your success.

I am flying there from North Carolina. 

I think it depends on the market so there is not an easy one stop answer. If it is a market that only has one major industry and layoffs happen it might be hard for the landlord to get rent or increase rates. On the other-hand if it is a market that is diversified enough people still need a place to live. Obviously that is just considering long term rentals. I am a bit concerned that STR might be impacted if some people have less discretionary money and have had my eyes on STR for a bit so a bit more hesitant to dive in to that right now.

I am on the product team here at BiggerPockets and also a real estate investor myself. The last few weeks I have spoken to some investors that have a bit of stress with increased interest rates, inflation, concerns of recession on the horizon and some that have even started to see dips in their short term rental bookings, but then I talk to other investors that seem to be thriving right now more than ever in their markets. We have millions of people in our community so would love to know what are the resources you need or are looking for during this time if any? 

@David M. haha nothing yet, trying to compile my complete list first, thus my question to the group.

Thanks @David M.! 100%. I have a CPA that I have my ongoing list of questions to run by them to confirm before they file my taxes. Just wanted to make sure there aren’t those questions out there that I didn’t think to ask.